Deutsche Bank, Germany's biggest lender, is to rebrand its asset management arm as DWS in preparation for its €8bn (£7.5bn) float.
The bank said it would list a minority stake in Deutsche Asset Management earlier this year.
But DWS' spin-off will take an unusual form, with Deutsche retaining overall control of the business. Through a Kommanditgesellschaft auf Aktien (KGaA) legal structure the bank will remain in charge, even if its shareholding falls below 75 per cent.
If Deutsche's shareholding falls a certain level – typically 50 per cent – DWS will revert to a normal German listed model known as an "AG".
"We want to unlock the full potential of Deutsche AM to facilitate growth. Our future legal structure demonstrates the long-term commitment of Deutsche Bank to our business while giving us the operational autonomy to advance our growth strategy," said head of Deutsche Asset Management Nicolas Moreau – who is the designated chief exec of DWS.
Our new global brand DWS draws on our roots in the German market, going back over 60 years, and a name that is distinct in our industry globally. It stands for stability, a strong track record and for values we have continuously lived up to: excellence, entrepreneurship,